Property developers in Dubai have recently started diversifying their portfolios with expanding pipelines of mixed-use projects around the city.

UAE-based Deyaar Developments is moving with this trend, having announced several project launches in Barsha South, and is now nearing completion on its three-building development, Mont Rose.

Located in what is expected to become a sprawling community in the next couple of years, the $117m (AED430m) Mont Rose comprises two residential towers and a hotel apartment building. The residential buildings, towers A and B, will have 146 one-bedroom, 144 two-bedroom, and seven three-bedroom units.

With a total built-up area of nearly 79,000m2, the development will be surrounded by hospitals, clinics, and schools, and is located close to a science and technology park. The transportation infrastructure is already taking shape near to the project.

David Milligan has been a part of Deyaar’s growth since 2013, and is currently head of projects and commercial at the company. He says: “As a masterplan, we see [Al Barsha South as having] great potential and [being a] growth coordinator. We were probably one of the first developers to start again in this area.”

“If you look at the overall masterplan, it is going to have high-calibre schools, hospitals, a fantastic opportunity for retail, as well as a mall 500m from [the site].”

Mont Rose was put on hold nearly 10 years ago before going through a comprehensive redesign that included the addition of more units and a hospitality component to the final plan. Ground was officially broken in 2014.

“What we did previously was a re-excavation because we had already started the foundations a couple of years ago, when the project was put on suspension,” Milliband explains. “We then relaunched [the project in 2014], redesigned it, changed its name, and rebranded. We also changed the unit types, and introduced serviced apartments as a component.”

While Deyaar plans to keep the hotel element as a held asset, nearly 85% of the residential units have already been sold so far. The developer has also signed Millennium Hotels & Resorts to operate the serviced apartments.

“Millennium has signed off the quality, materials, and operational standards. We have residential sales opportunities, and the hospitality sector is starting to boom in Dubai,” Milliband says. He adds that operational mobilisation should start by the fourth quarter of this year.

The hospitality portion of the development will have a soft opening of a couple of floors, and will then be fully operational by the end of the year, he explains. Millennium will be on site by the end of Q3 to prepare for handover.

Structural and mechanical, electrical, and plumbing (MEP) works are now complete, and the serviced apartments around 62% finished. The residential towers are both around 90% complete.

Deyaar signed Al Oroba Contracting Company as the main contractor, and Incorporated Consultants Conin is the consultant.